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Thread: Report: NBA looking into buying Hornets

  1. #26

    Default Re: Report: NBA looking into buying Hornets

    well, the saints are nowhere close to having a history of being perennial contenders. even recently. but saying that new orleans is 100% a football town i will believe. no way will they support a basketball team down in football country.

  2. #27
    T.E.A.M.
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    Default Re: Report: NBA looking into buying Hornets

    What about Seattle? The league doesn't feel the same without the Seattle SuperSonics if you ask me.

  3. #28

    Default Re: Report: NBA looking into buying Hornets

    about key arena a friend of mine lived in seattle for a few years and would go to sonic, seahawk, and mariner games

    he said that key arena was very run down and it was disgusting how old and unkept it became in the sonics last years there but he also said there were always pretty good crowds for them even though the arena was a dump

    if a team were to go back to seattle, the kings might be a good option just to stay on the west coast the kings would play in key arena until further notice if the city wants to build them a new arena and fold the seattle storm

    perhaps put the hornets in las vegas (with a new name and go by vegas rather than las vegas ) rather than st. louis
    Last edited by Scot Pollard; 12-05-2010 at 10:55 AM.
    In 49 states it's just basketball, but this is Indiana!

  4. #29

    Default Re: Report: NBA looking into buying Hornets

    The NBA may buy the team to allow Chouest to work on a new lease agreement with the State, put together some new investors to help him with the financing and go through the CBA negotiations/lock-out. Or simply to buy him some time to see how the drill moratorium goes. If the new congress will be able to do something to lift it. Not necessarily to move the team out of New Orleans. They certainly aren't moving to Seattle. No arena there.
    Last edited by cordobes; 12-05-2010 at 11:07 AM.

  5. #30

    Default Re: Report: NBA looking into buying Hornets

    Quote Originally Posted by cordobes View Post
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    The NBA may buy the team to allow Chouest to work on a new lease agreement with the State, put together some new investors to help him with the financing and go through the CBA negotiations/lock-out. Or simply to buy him some time to see how the drill moratorium goes. If the new congress will be able to do something to lift it. Not necessarily to move the team out of New Orleans. They certainly aren't moving to Seattle. No arena there.
    yeah thats why a team wont be going back to seattle because that city doesnt want to build them a new arena

    its pretty guaranteed that the kings are going to las vegas anyway
    In 49 states it's just basketball, but this is Indiana!

  6. #31

    Default Re: Report: NBA looking into buying Hornets

    the hornets need to get out of new orleans and fast

    any smart marketer or owner knows that they cant nleave that team there because there is no support from fans or the city

    theres nothing wrong with putting the hornets in st. louis that stupid silna can has nothing to do with it and wont be the owner if he doesnt want to have anything to do with it he doesnt own st. louis or the nba besides that was many years ago

    st. louis has a good sports fan base i dont know why other people see otherwise just so puzzling 0.o

    lets see the attendances in st. louis

    rams 30th (they suck though and have sucked for years)
    cardinals 4th
    blues 7th

    the hornets are pretty good and will have pretty big crowds
    Last edited by Scot Pollard; 12-05-2010 at 12:32 PM.
    In 49 states it's just basketball, but this is Indiana!

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  8. #32
    Over the pond ballism's Avatar
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    Default Re: Report: NBA looking into buying Hornets

    This angle would surely look good in CBA negotiations though. 'We had to buy out a team because it was struggling financially and noone wanted to buy it, even though it had a superstar on its roster'.

  9. #33

    Default Re: Report: NBA looking into buying Hornets

    Move them to Seattle and move them to the Northwest Division. OKC moves to the Southwest Division. Give the Hornets name back to Charlotte where it belongs.

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  11. #34
    crazy shinaniganz BringJackBack's Avatar
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    Default Re: Report: NBA looking into buying Hornets

    Over/under 50% chance of a Hornets fire sale?

  12. #35
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    Default Re: Report: NBA looking into buying Hornets

    http://sportsillustrated.cnn.com/201....ap/index.html

    Source: NBA agrees to buy Hornets


    NEW ORLEANS (AP) -- New Orleans Hornets owner George Shinn has agreed to sell the club to the NBA and the transaction could be completed within a couple days, according to a person familiar with the decision.

    The league has lined up New Orleans-born sports attorney Jac Sperling, vice chairman of the NHL's Minnesota Wild, to be the NBA's administrator of the team and oversee its sale to a more permanent owner, the person told The Associated Press Sunday on condition of anonymity because the move has not been publicly announced.

    Current Hornets President Hugh Weber will continue overseeing day-to-day operations of what will be the first NBA team to be owned by the league, the person said.

    NBA spokesman Tim Frank declined Sunday to comment on the sale.

    Shinn has been in negotiations to sell the team to minority owner and Louisiana native Gary Chouest since last spring, but talks have been stalled for months.

    Chouest, who owns 35 percent of the team, runs a business that supplies vessels to the gulf oil industry. Recently, he has become concerned about his ability to run his family business while taking over the Hornets, said the person who confirmed the NBA's planned purchase of the club.

    It remained unclear on Sunday night if Chouest would keep his stake in the club if the NBA took over, or if he could be lured back to the table once the team is in the NBA's hands.

    Chouest has not responded to repeated calls to his office and e-mails requesting comment on the matter since he first entered negotiations to buy Shinn's majority shares of the team.

    Attendance for Hornets games has been lower than the club hoped, despite a 13-6 record heading into Sunday night's game at San Antonio. Through 10 home games, average attendance has been 13,865.

    If it doesn't pick up, the Hornets could have the right to break their lease at the New Orleans Arena after this season. The lease runs through 2014, but the team is allowed to break it if average attendance falls below 14,735 during a two-year period.

    The club would have to notify the state of any intent to end the lease by March 31, 2011. However, the person who spoke to The AP about the sale said the league wants the Hornets to remain in New Orleans.

    The Hornets have been based in the Big Easy since Shinn, the club's founder, moved them from Charlotte in 2002. However, the team played most of its home games in Oklahoma City for two seasons from 2005-07 because of Hurricane Katrina.

    Shinn, 69, was diagnosed last year with prostate cancer, which he said has been treated successfully. He decided after that experience that he wanted to move on from NBA ownership and instead focus on his faith and on charitable efforts to promote the fight against cancer.

  13. #36
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    Default Re: Report: NBA looking into buying Hornets

    Anyone else nervous about the precedent this sets if true?

    It seems that if an owner decides they have had enough for whatever reason, health in this case with financial difficulties for the proposed minority owner buyout appearing to stop the private purchase, that the league might step in and take control by buying out the current owner.

    Despite assurances to the contrary here, Herb is not young, and nobody else in his family appears to want to take the franchise over at this point. Hopefully he has the endurance to hold on for a while longer during the continuation of the rebuild.

    We have no actual superstar on the roster like New Orleans has, but we have young talent. Hopefully that would make the difference in finding a new ownership group that would be interested in trying to wait out the improvement process with the opportunity to get more talent after the potential lockout period if it comes to the Pacers being put up for sale.

    I am probably overreacting here, but it can't be easy for Herb to keep absorbing the financial hits in a difficult retail economy.

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  15. #37
    crazy shinaniganz BringJackBack's Avatar
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    Default Re: Report: NBA looking into buying Hornets

    Quote Originally Posted by Brad8888 View Post
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    Anyone else nervous about the precedent this sets if true?

    It seems that if an owner decides they have had enough for whatever reason, health in this case with financial difficulties for the proposed minority owner buyout appearing to stop the private purchase, that the league might step in and take control by buying out the current owner.

    Despite assurances to the contrary here, Herb is not young, and nobody else in his family appears to want to take the franchise over at this point. Hopefully he has the endurance to hold on for a while longer during the continuation of the rebuild.

    We have no actual superstar on the roster like New Orleans has, but we have young talent. Hopefully that would make the difference in finding a new ownership group that would be interested in trying to wait out the improvement process with the opportunity to get more talent after the potential lockout period if it comes to the Pacers being put up for sale.

    I am probably overreacting here, but it can't be easy for Herb to keep absorbing the financial hits in a difficult retail economy.
    I didn't enjoy reading your post. I'm not worried, but this will probably be stuck in the back of my mind today.


  16. #38

    Default Re: Report: NBA looking into buying Hornets

    New Orleans doesn't have much of a history as a pro basketball city. The Jazz were only there five years and the Hornets have been there seven. Twelve total years in over three and a half decades doesn't count for much, especially when they struggle to sell any tickets. Pack em up and move the team to a city who cares.

  17. #39
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    Default Re: Report: NBA looking into buying Hornets

    Seems like a perfect team for contraction. IMHO the NBA could use a couple less teams for it's own long term good. Also, all this moving around of teams recently isn't good.
    O'Brien has been fired! Yay! What took so long?

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  18. #40
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    Default Re: Report: NBA looking into buying Hornets

    Who would have thought OKC could be an NBA town?

    The West Coast and California, in particular, are funny about public support of stadiums/arenas. With Sacramento's real estate collapse, one wonders if people's minds there are somewhere else besides the Kings.

    St. Louis's Scottrade Center is ok. It is VERY vertical, but feels alot like DC's Verizon Center. It's very hockey friendly. As for my opinion on St. Louis, it's a city whose population has been declining for the last 100 years and it doesn't have the feel of a big city. And I doubt they could support 4 pro teams. And outside of the beer stuff, it doesn't seem to have much corporate presence.

    As for George Shinn, the NBA should have seen this years ago. He was the owner of the Lexington Thoroughblades, a minor league hockey team in KY, which was doing well but apparently, he was losing money and he moved the team to Cleveland, where it died a quick death. My thoughts are that the move to NO was a temporary buoying from the financial incentives and the initial boost/bonus has worn down.

  19. #41

    Default Re: Report: NBA looking into buying Hornets

    Quote Originally Posted by Brad8888 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Anyone else nervous about the precedent this sets if true?

    It seems that if an owner decides they have had enough for whatever reason, health in this case with financial difficulties for the proposed minority owner buyout appearing to stop the private purchase, that the league might step in and take control by buying out the current owner.

    Despite assurances to the contrary here, Herb is not young, and nobody else in his family appears to want to take the franchise over at this point. Hopefully he has the endurance to hold on for a while longer during the continuation of the rebuild.

    We have no actual superstar on the roster like New Orleans has, but we have young talent. Hopefully that would make the difference in finding a new ownership group that would be interested in trying to wait out the improvement process with the opportunity to get more talent after the potential lockout period if it comes to the Pacers being put up for sale.

    I am probably overreacting here, but it can't be easy for Herb to keep absorbing the financial hits in a difficult retail economy.

    I've said this numerous times that I believe Herb is going to sell the Pacers soon... as in the next 2 years.

    If the Pacers keep playing 500 ball this year and would happen to make the playoffs, it would really put this team in a good position with the expirings contracts at the end of the season. It makes the team far more marketable than the past 4-6 years. It gives Herb the opportunity to sell and still leave the City of Indianapolis in good shape keeping the Pacers.

    With the lockout coming next season no salaries are paid until it is over, and a new CBA owner friendly contract, would make the Pacers even look better. With Bird and Jimmy's contracts are up at the end of the season, a new owner can bring in his own FO if it would be sold this off season. If not, with the lockout, I could see Bird and Jimmy signed for the 011-012 season, so new ownership wouldn't be stuck with a FO & HC if bought in the 011-012 off season. JMOAA

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  21. #42
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    Default Re: Report: NBA looking into buying Hornets

    I believe the NBA and the Simons have already looked and conferred with potential buyers, should the Pacers become available, that would keep the team in Indy. I've heard the same was down with the Colts a few years back when rumors surfaced and concern was expressed about Jim Irsay's drug use.

  22. #43
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    Default Re: Report: NBA looking into buying Hornets

    Indy is a good market with a lot of support from the city and fans and draws a lot of interest when its teams are good.

    We're finally a good team again and it's drawing interest.

    We don't have any problems either way and if Herb is ready to sell the team whenever that may be, it will be to someone in Indy because the city won't allow them to leave and there's a lot of support.

    EDIT: It's a question mark whether or not the Fever will remain once Herb is ready to sell the team, but it's pretty much a guarantee that the Pacers will be fine.
    Last edited by Trophy; 12-06-2010 at 10:49 AM.

  23. #44

    Default Re: Report: NBA looking into buying Hornets

    Indianapolis fans are fairweather fans. I'm not worried about the Pacers leaving because if they keep on getting better their popularity will rise.

  24. #45

    Default Re: Report: NBA looking into buying Hornets

    Quote Originally Posted by BringJackBack View Post
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    Over/under 50% chance of a Hornets fire sale?
    During the league's temporary ownership? Well under 50%, I don't see them doing any kind of major move without settling the ownership issue.

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  26. #46

    Default Re: Report: NBA looking into buying Hornets

    http://www.cnbc.com/id/40536759

    NBA Buying Hornets Is a Really Bad Idea
    Published: Monday, 6 Dec 2010 | 5:33 PM ET Text Size By: Darren Rovell
    CNBC Sports Business Reporter
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    The NBA announced today that it is buying the New Orleans Hornets. As far as I’m concerned, it’s not a good deal for the league and its teams. Why? Because, unless there’s a profit guaranteed, it’s just not good business for the league to own teams.



    The NHL bought the Coyotes last year for $140 million because NHL commissioner Gary Bettman was so adamant on keeping the team in Phoenix. Because they’ve held on to it so long, they're not making their money back when they sell it. No chance.

    Major League Baseball, on the other hand, bought the Montreal Expos in 2002 for $120 million because the league and owners knew they could award it to a city ahead of time (Washington D.C.) and have plenty of bidders. It worked. They sold the team to Theodore Lerner for $450 million.

    First, let’s start with the price.

    NBA commissioner David Stern said Monday afternoon that the league bought the team for the price that was previously negotiated by minority partner Gary Chouest, which was around $300 million before it fell through.

    Chouest bought his 25 percent share in 2007 for $62 million, which means the team was valued at $248 million. Since I can’t imagine the team increased in value since then, given the state of the economy and the losses endured by the Hornets, the team would be valued at around $260 million in today’s dollars based on the price Chouest paid for his share three years ago. If Shinn and Chouest sold for more than $300 million, they got out like bandits and should run to the bank to as soon as the checks arrive.

    Stern also said that the league doesn’t have a timetable for selling the team. But, as baseball learned and how the NHL will soon learn, the timetable is everything. It’s even more crucial to the league now as the collective bargaining agreement expires in June and a lockout could not only hurt the value of each of the owners teams, but the value of the Hornets that they collectively own.

    The league bought the team in part, Stern said, because it could not extend any more money to the Hornets as part of its credit facility. Stern reiterated that he thought it was a “good investment” to make, that it would not be “harmful” to the league and that he was guaranteeing they’d make a profit off it.

    There are some prospective owners out there, but Larry Ellison doesn’t want to own the Kansas City Hornets. Trust me on that one, OK?

    The last point is the public relations disaster that this could create. If George Shinn and Gary Chouest couldn’t make it in New Orleans, fine. They’d say that and leave. Now it’s the NBA’s business to put this team in the best position it can and if they leave New Orleans it will be the league’s fault, not Shinn or Chouest’s fault, that they left.

    The NBA Board of Governors will vote on whether the league will in fact buy the team next week and I’d say there’s simply too much in the air to execute this deal.

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